Question: I need an answer for this Question 6 (1 point) A lottery ticket costs $5.00. There are 1 000 000 tickets in the draw. The

I need an answer for this

I need an answer for this Question 6 (1 point) A lottery

Question 6 (1 point) A lottery ticket costs $5.00. There are 1 000 000 tickets in the draw. The prizes and the number of tickets that will receive each prize are listed below. What is the expected value of each ticket? **hint: Find x*P(x). Prize ($) Number of Tickets 1 000 000 1 50 000 5 1 000 20 50 10 000 $1.77 -$3.23 $1 770 000 $1 769 995

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!